Synaptics Makes No Mention of Renewed iPod Deal; Stock Drops Hard (SYNA)

Touchpad maker Synaptics (SYNA) is down 9% in after hours trading, following its F2Q06 earnings report. The company did not disappoint on earnings expectations or forward guidance :

EPS $0.18 (down 51% y/y) or $0.27 before options costs -- beat analyst estimates of $0.24.

Revenue: $56.5 million -- beat analyst estimates of $48.4.

Guidance for F3Q06: Revenue: $42-45 million -- in line with estimates.

Perhaps the company's refusal to discuss a renewed deal to supply Apple's iPod with touchpads -- rumored for some time now -- contributed to the post-earnings selloff? From the conference call:

Q - Andrew Neff (analyst)

And then lastly, you made a statement on last call that you were not on the new Apple products, can you update us on that statement and all?

A - Russell Knittel (CFO, Synaptics)

We cannot comment specific to customers.

Q - Andrew Neff

So you did comment on that previously -- you put out [a statement] where you did comment.

A - Russell Knittel

At this point, we cannot comment.

Q - Andrew Neff

Thank you.

Read the full conference call.

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